Financial Data and Key Metrics Changes - The company met its new guidance for the year, coming in at the upper end of all-in sustaining costs and lower end of production [4] - Basic earnings per share were slightly negative for the quarter, primarily due to lower-than-budgeted production at Fekola and foreign exchange impacts [16] - Adjusted net earnings for the quarter were $0.01 per share, with operating cash flow before working capital adjustments at $145 million [17][18] Business Line Data and Key Metrics Changes - Fekola's production was down in 2024, attributed to operational challenges, but the company expects substantial increases in production moving forward [10][25] - The Goose project is on track to produce first gold by the end of Q2 2025, with total construction and development cash expenditures maintained at CAD1.54 billion [18][24] - The Masbate operations outperformed expectations, delivering all-in sustaining costs materially lower than guidance [25] Market Data and Key Metrics Changes - The company is looking to increase production from Fekola to 180,000 ounces annually and from Goose to over 300,000 ounces annually [10][12] - A new discovery in the Otjikoto area has the potential to add 65,000 ounces of gold production [13] Company Strategy and Development Direction - The company is focused on growth from existing assets, with plans to increase production significantly in 2025 [15][31] - The Gramalote project in Colombia is under a feasibility study, expected to yield 240,000 ounces annually, subject to positive outcomes [11][30] - The company is also working on consolidating licenses in Mali to facilitate regional mining [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting a positive relationship with the Mali government and the resolution of previous uncertainties [28][29] - The company anticipates a turnaround in market perception as risks associated with the Mali operations and the Goose project are alleviated [30] Other Important Information - The company completed a convertible note offering for gross proceeds of $460 million, which was used to pay down its revolving credit facility [19] - The company is maintaining a strong financial position with cash and cash equivalents of $337 million at year-end [18] Q&A Session Summary Question: Update on Fekola permits and regulatory requirements - Management is consolidating three licenses and expects to receive the necessary permits soon, allowing for regional mining to start [35][36] Question: Status of Goose project and underground mining rates - The company acknowledged historical issues with miner quality and equipment but has made improvements, and production rates are now meeting targets [39][40]

Financial Performance - Gold revenue for 2024 was $1,902,030, a decrease of 1.7% from $1,934,272 in 2023[22] - Total cost of sales increased to $1,195,835 in 2024 from $1,154,271 in 2023, reflecting a rise of 3.6%[22] - Gross profit decreased to $706,195 in 2024, down 9.5% from $780,001 in 2023[22] - Net loss for 2024 was $626,653, compared to a net income of $41,588 in 2023, marking a substantial decline[22] - Basic loss per share attributable to shareholders was $0.48 in 2024, compared to earnings of $0.01 per share in 2023[22] - Total comprehensive loss for the year was $604,168, compared to a comprehensive income of $62,201 in 2023[23] Impairments - The company reported an impairment of long-lived assets totaling $876,376 in 2024, significantly higher than the $322,148 recorded in 2023[22] - The impairment assessment for the Goose Project CGU resulted in an impairment of $661 million, based on a discounted cash flow model[13] - The Fekola Complex CGU also experienced an impairment of $215 million, with management applying significant judgment in estimating recoverable amounts[17] - The Company recorded an impairment charge of $661 million for the Goose Project CGU in the year ended December 31, 2024[127] - The Fekola Complex CGU experienced an impairment of $215 million, resulting in a net impairment charge of $194 million after a deferred income tax recovery of $21 million for the year ended December 31, 2024[132] Assets and Liabilities - Total assets decreased slightly to $4.814 billion in 2024 from $4.875 billion in 2023, a decline of about 1.25%[25] - Cash and cash equivalents at the end of 2024 were $336.971 million, up from $306.895 million in 2023, indicating an increase of approximately 9.8%[25] - Long-term debt rose significantly to $421.464 million in 2024 from $175.869 million in 2023, representing an increase of about 139%[25] - The current portion of prepaid gold sales was reported at $272.781 million in 2024, reflecting a new liability compared to 2023[25] - Total debt increased to $437.9 million in 2024 from $192.1 million in 2023, primarily due to a new revolving credit facility[163] Shareholder Equity - Shareholders' equity decreased to $2.983 billion in 2024 from $3.810 billion in 2023, a decline of approximately 21.7%[25] - The total equity of B2Gold Corp. decreased to $3.035697 billion as of December 31, 2024, down from $3.909975 billion at the end of 2023[27] - B2Gold's share capital increased to $3.510271 billion in 2024, up from $3.454811 billion in 2023, indicating a growth in equity financing[27] Cash Flow and Investments - Cash provided by operating activities increased to $877.604 million in 2024 from $714.453 million in 2023, reflecting a growth of approximately 23%[24] - The company invested $515.391 million in the Goose Project in 2024, a substantial increase compared to $282.338 million in 2023[24] - The company issued 2,700 thousand shares for flow-through financing, raising $7.058 million in 2024[26] - The company sold 79 million shares of Calibre Mining Corp for proceeds of $100 million, reclassifying the remaining investment of 32 million shares valued at $43 million to long-term investments[120] - The total long-term investments decreased from $86.0 million in 2023 to $76.7 million in 2024, reflecting various sales and purchases[120] Stock and Share-Based Payments - Share-based payments amounted to $25.763 million in 2024, reflecting the company's commitment to incentivizing its employees[26] - The total number of shares outstanding increased to 1,318,041 thousand by December 31, 2024, from 1,302,396 thousand in 2023[27] - The company granted approximately 22 million stock options in 2024, with an estimated fair value of $11 million recognized over the vesting period[191] - Share-based payments expense related to DSUs decreased to $0.1 million in 2024 from $0.8 million in 2023, showing a reduction of 87.5%[202] Acquisitions and Business Combinations - The company completed the acquisition of Sabina Gold & Silver Corp for a total purchase price of $937 million, which included the issuance of 216,451,555 shares valued at Cdn. $5.72 per share[140][141] - The company incurred a $112 million payment to extinguish certain gold stream and construction financing obligations following the acquisition of Sabina[143] - The company recognized an impairment of $112 million related to its existing 50% interest in the Gramalote Project after acquiring the remaining 50% from AngloGold Ashanti[146] Tax and Regulatory Matters - The company recorded an income tax expense of $67 million for the settlement of income tax and customs assessments for the period from 2016 through 2023[136] - An amended Executive Officer Incentive Compensation Clawback Policy was adopted on November 7, 2023, to comply with new regulatory requirements[204] Hedging and Financial Instruments - The company implemented a gold collar hedging program aimed at achieving a minimum cumulative financial settlement of $220 million[168] - The company measures the fair value of financial instruments not traded in an active market using valuation techniques, impacting the gold stream obligation[110] Mine Operations and Restoration - The company’s mine restoration provisions increased to approximately $147.7 million as of December 31, 2024, up from $107.7 million in 2023[185] - The company reported a severance obligation of $12 million related to the phased closure plan for the Otjikoto Mine, recorded as a restructuring charge[147]

Group 1 - The company, Laureate Education, Inc., will participate in the BTG Pactual Latam Opportunities Conference on March 18-19, 2025, in London [1][2] - The conference is invitation-only, and interested parties must register to attend [2] - Laureate Education operates five higher education institutions in Mexico and Peru, serving over 450,000 students through various degree programs [3]

Company Overview - B2Gold (NYSE: BTG) is a gold mining company operating the tier-1 Fekola mine in Mali and several other low-AISC (all-in sustaining cost) mines [1] Macroeconomic Context - The broader macroeconomic environment is favorable for gold, which has been emphasized in previous coverage [1] Leadership and Expertise - Benjamin Halliburton, the founder of Building Benjamins, has extensive experience in investment management, having started his career at Merrill Lynch in 1986 and earning an MBA from Duke's Fuqua School of Business in 1990 [1] - Halliburton has been recognized for his investment acumen, being named "PSN Manager of the Decade" for All-Cap in the 2000s and for Dividend Value in the 2010s [1] Performance and Strategy - Halliburton's "Disciplined Growth Strategy" outperformed the S&P 500 during the 1990s bull market, showcasing a strong track record in portfolio management [1] - He was the youngest partner at his previous firm, Brundage, Story and Rose, and received accolades from senior managing partners for his investment skills [1]

Company Performance - B2Gold (BTG) closed at $2.42, reflecting a -0.82% change from the previous session, underperforming compared to the S&P 500's loss of 0.51% [1] - Over the last month, B2Gold's shares decreased by 5.79%, while the Basic Materials sector gained 4.34% and the S&P 500 gained 2.87% [1] Upcoming Earnings - B2Gold's earnings report is scheduled for February 19, 2025, with analysts expecting earnings of $0.07 per share, indicating no growth from the previous year [2] Analyst Estimates - Recent changes to analyst estimates for B2Gold are important as they reflect the evolving business trends, with upward revisions indicating positive sentiment towards the company's profitability [3] Zacks Rank and Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), shows B2Gold currently holds a rank of 3 (Hold) [5] - The Zacks Consensus EPS estimate for B2Gold has decreased by 5.43% in the past month [5] Valuation Metrics - B2Gold is trading at a Forward P/E ratio of 5.9, which is below the industry's average Forward P/E of 10.76 [6] - The company has a PEG ratio of 0.27, compared to the industry average PEG ratio of 0.62 [6] Industry Context - The Mining - Gold industry, part of the Basic Materials sector, has a Zacks Industry Rank of 89, placing it in the top 36% of over 250 industries [7] - Strong industry rankings correlate with stock performance, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Group 1 - The individual has 15 years of experience in the financial sector, focusing on analysis and risk management across investment banks, commercial banks, and insurance companies [1] - The goal is to identify companies that provide both growth and value, emphasizing the importance of investing in undervalued companies with strong growth potential [1] - The individual holds two Master's degrees in Management and Science, which may lend credibility to their analysis despite the belief that qualifications do not necessarily equate to intelligence [1] Group 2 - The individual has a beneficial long position in BTG shares, indicating a personal investment interest in the company [2] - The article expresses personal opinions and is not influenced by compensation from any company mentioned [2] - There is no business relationship with any company whose stock is discussed in the article, ensuring an independent perspective [2]

VANCOUVER, British Columbia, Jan. 29, 2025 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO, NYSE:BTG, NSX: B2G)) ("B2Gold" or the "Company") will release its fourth quarter and full year 2024 financial results after the North American markets close on Wednesday, February 19, 2025. B2Gold executives will host a conference call to discuss the results on Thursday, February 20, 2025, at 8:00 am PT / 11:00 am ET. Participants may register for the conference call here: registration link. Upon registering, participants ...

VANCOUVER, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO, NYSE:BTG, NSX: B2G)) ("B2Gold" or the "Company") has closed its previously announced offering of 2.75% convertible senior unsecured notes due 2030 (the "Notes") in an aggregate principal amount of US$460 million (the "Offering"), which includes exercise of the full amount of the option to purchase an additional US$60 million aggregate principal amount of Notes. The initial conversion rate for the Notes is 315.2088 common s ...

Stock Performance - B2Gold closed at $2 39, up 0 42% from the previous session, underperforming the S&P 500's 1% gain, the Dow's 0 78% gain, and the Nasdaq's 1 51% gain [1] - Over the past month, B2Gold shares depreciated by 2 46%, outperforming the Basic Materials sector's 3 81% loss but lagging the S&P 500's 2 14% loss [1] Earnings and Analyst Expectations - Analysts expect B2Gold to report earnings of $0 07 per share in the upcoming earnings disclosure, showing no growth from the prior-year quarter [2] - Recent changes in analyst estimates reflect evolving short-term business trends, with upbeat revisions indicating a favorable outlook on the company's business health and profitability [3] - The consensus EPS projection for B2Gold has moved 6% lower within the past 30 days [5] Valuation Metrics - B2Gold is trading at a Forward P/E ratio of 5 79, a discount compared to the industry average of 9 73 [5] - The company has a PEG ratio of 0 27, lower than the Mining - Gold industry average of 0 56 [6] Industry and Sector Performance - The Mining - Gold industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 79, placing it in the top 32% of all 250+ industries [6] - The Zacks Industry Rank shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7] Zacks Rank and Stock Performance - B2Gold currently has a Zacks Rank of 3 (Hold) [5] - The Zacks Rank system, which considers estimate changes, has a proven track record, with 1 stocks returning an average of +25% annually since 1988 [5]

B2Gold Corp. (BTG) announced its total consolidated gold production for fourth-quarter 2024 at 186,001 ounces. Better-than-expected production at Masbate and Otjikoto offset lower production levels at Fekola in the quarter.In the fourth quarter of 2023, B2Gold’s gold production from these three mines was 270,611 ounces.BTG’s consolidated gold revenues in fourth-quarter 2024 were $500 million, down 2.3% year over year. In the quarter, the company sold 187,793 ounces at an average realized gold price of $2,66 ...